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Nov 29, 2012
11/12
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. >> let's be very clear, though, the president has already signed into law more cuts than were in the simpson-bowles proposal, he's proposed additional cuts in the 2013 budget he's proposed. to say he hasn't put cuts on the table is completely disingeneralsous. >> karen is making president obama out to be a tight fisted spending cutter. you followed the fiscal beat? >> do you regard president obama as a tight-fisted spending cutter? >> it's somewhere in between. he did sign a cap that would save a trillion dollars over the next would you mean of years. but thens other side of it is that we need about $4.9 trillion of savings over the next year to stabilize grashio, or cutting spending to medicare crieders. you actually do need to take on and storm reforming or we're going to be facing a down grade of all three rate being agencies. >> in brief, this stuff about -- they call it providers. providers are patients, providers congress -- you think congratulations and republican are going to take out from -- >> i think it's going to be a provider but i generally don't think it's like it. >>
. >> let's be very clear, though, the president has already signed into law more cuts than were in the simpson-bowles proposal, he's proposed additional cuts in the 2013 budget he's proposed. to say he hasn't put cuts on the table is completely disingeneralsous. >> karen is making president obama out to be a tight fisted spending cutter. you followed the fiscal beat? >> do you regard president obama as a tight-fisted spending cutter? >> it's somewhere in between. he did...
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Nov 28, 2012
11/12
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it is not a rule it is a law and it is the statute. so, i'm in favor of some of these rules, but i'm recognizing at the end of the day, what matters more is what you send to washington. >> well, we he have a little more than a month to go and nobody seap seems to know how s going to play out. many, many thanks for coming on. cyber monday was a record breaker this year. sales rising 30% compared to this year. mobile dievises played a big role. so that young children can completely waste their time and parent's money. oh, i'm sorry that was just a joke. i take it all back. now, moving on, we are about to reveal the possible republican front-runner for 2016. this revelation coming from our buddy robert costa. up next a front-runner already. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we
it is not a rule it is a law and it is the statute. so, i'm in favor of some of these rules, but i'm recognizing at the end of the day, what matters more is what you send to washington. >> well, we he have a little more than a month to go and nobody seap seems to know how s going to play out. many, many thanks for coming on. cyber monday was a record breaker this year. sales rising 30% compared to this year. mobile dievises played a big role. so that young children can completely waste...
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Nov 30, 2012
11/12
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and he made me drive to my mother-in-law's house to verify what i thought i'd seen. that's what it was. >> there you go. cindy hill, dearborn, missouri. a big win there. this is not the largest jackpot in history. largest powerball was a megamillions i guess that was a little bit begger but hey, who is counting at this point? and mark hill by the way when asked what he wants with the money or what he is going to do with it, he said he wants red camero. i don't know if gm shares are moving on the news or not. but he now -- will he finance that purchase? >> i don't know. >> how many red cameros does he want is the question, not just one? >> a little red corvette, he can have whatever he wants at this point. congratulations to the hills of dearborn, missouri. >> no doubt. thanks. >>> our top three trades focusing on stocks making huge moves this month. abercrombie and fitch is certainly one of them up 50%. dr. jay, we haven't forgotten about you. >> i didn't think you did. but i would give mark and cindy just some quick advice. take that money all in one lump sum now be
and he made me drive to my mother-in-law's house to verify what i thought i'd seen. that's what it was. >> there you go. cindy hill, dearborn, missouri. a big win there. this is not the largest jackpot in history. largest powerball was a megamillions i guess that was a little bit begger but hey, who is counting at this point? and mark hill by the way when asked what he wants with the money or what he is going to do with it, he said he wants red camero. i don't know if gm shares are moving...
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Dec 1, 2012
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and repealing the health law could be one part of that. i think we should also remember that when we have a pro-growth fiscal policy the benefits are not just for the many unemployed americans who could come back to work but we have higher revenues as well. >> peter goodman, let's get your take on this. i would like personally to repeal the obama care. i've never favored it. i continue to oppose it. i want a flat tax. i'm a flat tax guy and have been for about the last 200 years. but i don't think in the next 30 days any of that's' going to happen. so what i'm suggesting is, the gop tactically should come out with something like what mcconnell said today in the unified. because i think obama is bluffing. i just want to ask you before i get to the obama bluff, what are the odds that the gop will come out, what are the odds that mitch mcconnell is really leading here? >> i think they're slim because the republican party has been hijacked by a bunch of ideological extremists who don't want to do a deal. they didn't want an economic recovery.
and repealing the health law could be one part of that. i think we should also remember that when we have a pro-growth fiscal policy the benefits are not just for the many unemployed americans who could come back to work but we have higher revenues as well. >> peter goodman, let's get your take on this. i would like personally to repeal the obama care. i've never favored it. i continue to oppose it. i want a flat tax. i'm a flat tax guy and have been for about the last 200 years. but i...
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Dec 3, 2012
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to revise the boj law. but it would at apply pressure to take worldbolder steps to pr any revision to the law. >> could they just change the mandate? >> they could, but it's probably unlikely that the mandate will be changed. focusing on price stability. some politicians want the mandate to be changed so that job growth is added among their policy objectives. that's unlikely. but the government might ask the boj to set their inflation target at a higher rate than the current 1%, most likely 2%. >> why is a change of mandate unlikely? they're unhappy with what the bank of japan is doing and you're a democratically elected government, what's wrong with changing the mandate and get on with it? >> i think what's happening in japan is that inflation is there for so long, that changing any mandate dramatically without having the clear means to achieve it would just undermine the credibility of central bank as well as politicians and their policy making. so i think politicians are very much aware of that, so while
to revise the boj law. but it would at apply pressure to take worldbolder steps to pr any revision to the law. >> could they just change the mandate? >> they could, but it's probably unlikely that the mandate will be changed. focusing on price stability. some politicians want the mandate to be changed so that job growth is added among their policy objectives. that's unlikely. but the government might ask the boj to set their inflation target at a higher rate than the current 1%,...
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Dec 4, 2012
12/12
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they pass a tax law. they get people to invest in it. then they turn around and blame you for taking advantage of the tax law. they call it incentives. then they call it loopholes. i think we have to get the government out of that part of the business. that tax code has to be changed. >> you've got to pay your fair share. >> everybody should pay their fair share. >> allstate is reducing its exposure to muni debt. why? is this a reaction to the fiscal cliff? >> well, we started reducing our municipal debt a couple years ago when the recession was on and state governments were having a hard time. we just had too much. we had about $26 billion. now we're down to 13. i feel good at where we're at. we reduced it for four reasons. if you're loaning somebody money, right, you want to make sure they got income to pay you. you want to make sure they got decent balance sheet. you got to like the management team. you got to like governance. in many of these states, we didn't like all four of them. we thought they didn't have any money, weren't gene
they pass a tax law. they get people to invest in it. then they turn around and blame you for taking advantage of the tax law. they call it incentives. then they call it loopholes. i think we have to get the government out of that part of the business. that tax code has to be changed. >> you've got to pay your fair share. >> everybody should pay their fair share. >> allstate is reducing its exposure to muni debt. why? is this a reaction to the fiscal cliff? >> well, we...
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Dec 4, 2012
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joining us, edward, a law professor and the former chief of staff at congress's joint committee on taxation. edward, do you agree? will it hit? >> absolutely not. it will have some modest effect, but the fact is that interest rates jump up and down all the time. right now we have home mortgage interest rates at historic lows. i just refinanced at 3% plus. if interest rates go to 4.25%, nobody would describe that as a catastrophic hit to the home mortgage market. that might move the cost of housing one percentage point or so. >> i wonder whether -- and when you think about buying a home, a lot of it is psychological. do i feel i'm in a position to do this? if we limb nate or cut the mortgage deduction, it might be more psychological. >> you're exactly right. there's a big psychological impact for existing homeowners of having this deduction removed. for home buyers making a decision to buy a home, i agree with the other guest. people buy homes because they believe homes are undervalid or they want a wonderful place to raise a family. not because they're getting that extra $500 in annual tax
joining us, edward, a law professor and the former chief of staff at congress's joint committee on taxation. edward, do you agree? will it hit? >> absolutely not. it will have some modest effect, but the fact is that interest rates jump up and down all the time. right now we have home mortgage interest rates at historic lows. i just refinanced at 3% plus. if interest rates go to 4.25%, nobody would describe that as a catastrophic hit to the home mortgage market. that might move the cost...
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Nov 28, 2012
11/12
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. >>> also ahead, this important story -- >> i plan to go to law school of a i graduated. looks like my folks won't have enough money to put me through college. >> well, the world needs ditch diggers too. >> student loan debt nears the $1 trillion mark. that's right. $1 trillion. new evidence college may not be worth it after all. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> another retailer declaring a special dividend. let's send it over to kayla for a quick market flash. >> that retailer is guess. that dividend came amid a lackluster quarter for the company. it beat on the top line but missed on the bottom line. it lowered guidance for next year and said store sales were down. look at the stock. up 3% after hours on $1.20 per share special dividend announced this quarter. investors like it. com
. >>> also ahead, this important story -- >> i plan to go to law school of a i graduated. looks like my folks won't have enough money to put me through college. >> well, the world needs ditch diggers too. >> student loan debt nears the $1 trillion mark. that's right. $1 trillion. new evidence college may not be worth it after all. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable,...
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Nov 30, 2012
11/12
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anyway, i drove to my mother-in-law's house to let her verify what i thought i had seen. that's what it was. >> that is what it was. don't you hate it when you can't see, when your glasses aren't there? could this be the other big powerball winner. the man came in to this maryland gas station store yesterday and asked for the powerball numbers and discovered he had the winning numbers. man jumped up and down and grabbed his ticket and took off, only to return minutes later because he realized he needed gas. he told the cashier he was from maryland and a member of the military but bought the ticket outside of flagstaff, arizona. >> wow. fantastic. thanks, ty. >>> in light of those big wins, we ask how much would you need to make to be happy? our wealth editor robert frank is here with a very surprising answer. >> hi, sue. well, the question of how much it takes to be happy is a little subjective. it depends of course on your current finances and those around you. but new research gives us some pretty good averages. in the u.s., the optimal salary for happiness is around $7
anyway, i drove to my mother-in-law's house to let her verify what i thought i had seen. that's what it was. >> that is what it was. don't you hate it when you can't see, when your glasses aren't there? could this be the other big powerball winner. the man came in to this maryland gas station store yesterday and asked for the powerball numbers and discovered he had the winning numbers. man jumped up and down and grabbed his ticket and took off, only to return minutes later because he...
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Dec 4, 2012
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those laws sometimes are forced a and sometimes not. this young man there was no reason legally to deny him the ownership of a firearm. so the suggestion by bob costas who ought to be fired for the comments, his outrageous suggestion that the civil rights of americans all 300 million of us should be taken away and we should be denied the right to own a gun that would be the only way to take it away from jovan belcher is to say no one can own a gun other than military or police. that's an outrageous suggestion. costas ought to be fired. >> larry it's ridiculous we're talking about firing a guy for trying to start a debate about how to control guns in this country. >> i don't want to talk about -- i want to leave the costas situation alone. he said what he said. what i want to talk about igor is the issue of violating the second amendment or greater gun regulation would have stopped this? i mean the question i have -- look, this guy was a big drinker. he suffered concussions. he use ad lot of pain killers. clearly, clearly he had huge men
those laws sometimes are forced a and sometimes not. this young man there was no reason legally to deny him the ownership of a firearm. so the suggestion by bob costas who ought to be fired for the comments, his outrageous suggestion that the civil rights of americans all 300 million of us should be taken away and we should be denied the right to own a gun that would be the only way to take it away from jovan belcher is to say no one can own a gun other than military or police. that's an...
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Dec 5, 2012
12/12
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sometimes they'll use the law to their advantage, but they're entitled to. a legal system needs to be predictable. maybe the tax regime we've been left with does provide opportunities for people to minimize their tax. >> we've been pretty harsh on the uk government in this interview, but what about us compared with the rest of the world. is it that much more onerous or complicated than elsewhere where senior individuals at big companies can go and do business? >> the uk tax system is now said to be the longest in the world. you can't see that that makes it easy to comply with rules. they've tried to make it a complicated system, bringing down corporate tax rates, introducing the patent box to reduce profits for companies making investments in essentially high-tech issues over here. yesterday can strip away a lot of the rules. indeed, they are proposing to introduce a general anti-avoidance rule in this country, which gives them an opportunity, if that works, as it is intended. but very importantly, doesn't put off businesses doing here an opportunity to stri
sometimes they'll use the law to their advantage, but they're entitled to. a legal system needs to be predictable. maybe the tax regime we've been left with does provide opportunities for people to minimize their tax. >> we've been pretty harsh on the uk government in this interview, but what about us compared with the rest of the world. is it that much more onerous or complicated than elsewhere where senior individuals at big companies can go and do business? >> the uk tax system...
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Nov 29, 2012
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. >> for the outfit that got hurt entry.ou did have to put in an >> not to mention a lot of law firms and things that were down here as well, had a lot of documents, old documents that were downstairs. >> we're still really figuring out what the impact of sandy was. >> a terrific article about stockton today, housing shortages happening in very strange areas, that was in bloomberg.com. the claims are still okay. they're not terrible. gdp was not bad. that's why again, if you settle the fiscal cliff, right now there's a combination of trying to pick up the pieces, which turn out to be harder and a sense of, well, wait a second, if you're a big company, why hire now if i'm going to have to fire later because of the cliff. >> in the premarket session, shares of tiffany taking a hit. the luxury goods taking a hit at 49 cents a share. also lowing it's full year forecast, with smaller than expected profit margins, it's a bad product mix in terms of higher priced items with lower margins. all of those things hitting them this morning. >> i really want to know, we have got two companies today
. >> for the outfit that got hurt entry.ou did have to put in an >> not to mention a lot of law firms and things that were down here as well, had a lot of documents, old documents that were downstairs. >> we're still really figuring out what the impact of sandy was. >> a terrific article about stockton today, housing shortages happening in very strange areas, that was in bloomberg.com. the claims are still okay. they're not terrible. gdp was not bad. that's why again, if...
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Dec 4, 2012
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once you get into a situation where tax laws are more stable and not -- >> it's smooths out. it smooths out. but the point is next year as joe just pointed out we'll see in 1986 those gains fell by more than half. the government collected half what they did the previous year, so we're going to see a really spiky income and revenue situation for the next two years. >> the question is what would happen, though, if you had a simpson/bowles-type plan. it plans to take dividends to 28% along with ordinary income. but 28% is higher than it would go up under most of the proposals. >> but this all begs the question of a great example this whole fiscal cliff the conversation we're having right here around the table about the simplification of our tax system. we laid out back during the campaign was basically a 20% flat tax across the board and gets away from all of these exemptions and all of the quite frankly you having to have two cpas and a lawyer to be able to do your taxes. and that's where washington really needs to be focused when we talk about what do they really need to be do
once you get into a situation where tax laws are more stable and not -- >> it's smooths out. it smooths out. but the point is next year as joe just pointed out we'll see in 1986 those gains fell by more than half. the government collected half what they did the previous year, so we're going to see a really spiky income and revenue situation for the next two years. >> the question is what would happen, though, if you had a simpson/bowles-type plan. it plans to take dividends to 28%...
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Dec 5, 2012
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so i felt more secure crossing the border into a country that had laws that were backed by the justice system. >> bizarre story. the whole thing with him. who was that last guy? the guy that had the dungeon built in his house? >> yeah, the guy in california, he was a software guy too. >> crazy. money goes to -- i don't know what happened to this guy. but his neighbors did. he had nothing to do with -- >> he had been blogging about -- >> bath salts or something? not to soak his feet in. >> no, bath salts were like a great experimental drug he'd been experimenting with. >> wait a second -- hopefully you don't turn into a cannibal. you draw the line right before you start eating someone. >> hopefully. >>> still to come, rising above the fiscal cliff, steny hoyer is going to be our guest. plus -- and steny, i was reading his stuff. he sounds -- he's rising above a little bit. he didn't sound quite as -- jobs in focus. private payroll data from adp. this was my choice too. kenny chesney. it's a jobs friday preview. >>> and mark zandi of moody's joins us. we'll explain why he's wrong. >> if
so i felt more secure crossing the border into a country that had laws that were backed by the justice system. >> bizarre story. the whole thing with him. who was that last guy? the guy that had the dungeon built in his house? >> yeah, the guy in california, he was a software guy too. >> crazy. money goes to -- i don't know what happened to this guy. but his neighbors did. he had nothing to do with -- >> he had been blogging about -- >> bath salts or something? not...
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Nov 29, 2012
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you have to pass a law that says the present law has to be overridden. the argument is whether it's overridden for people over 250,000. >> and what would be your position on that? >> oh, i think the simple thing to do, obviously do what the president is saying. he ran a campaign on it. if you have to act in three weeks, you're not going to revise the whole income tax code in the next three weeks. all this business about deductions may be perfectly legitimate and i think that both income tax -- personal income tax and corporate income tax need a lot of thought and a lot of revision. they're both broken. but you're not going to do that in three weeks. the challenge that i see is in three weeks you've got to have some convincing balance of the tax side, the revenue side, with the expenditure side. you can't change the expenditures in three weeks. you can indicate intentions, but you can't -- >> we'll have more of that conversation throughout the show including interesting comments he has about bernanke and interest rates and what's going on in washington be
you have to pass a law that says the present law has to be overridden. the argument is whether it's overridden for people over 250,000. >> and what would be your position on that? >> oh, i think the simple thing to do, obviously do what the president is saying. he ran a campaign on it. if you have to act in three weeks, you're not going to revise the whole income tax code in the next three weeks. all this business about deductions may be perfectly legitimate and i think that both...
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Dec 3, 2012
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do you get something as you give something or do you think it's a bad law all the way through? >> honestly, steve, i think the answer is we're all going to find out a year from now. we're offering health care to our full time folks today. how this is going to affect business, how it's going to flow through, we're not going to know for a while now. first because uls you have to come, but secondly, i think there are a lot of things in effect that we're going do see in the marketplace for health care that nobody really fully understands yet. just an awful lot of changes coming through at once. so we'll see over time. >> all right. so salads just aren't happening for you, really, are they? >> you know, the lettuce and salads, people ask for them but, you know, it's interesting. at the end of the day, they like pizza. >> yeah, they do. >> that brooklyn style crust is outstanding. and that midweek carryout special, our kids love that. >> we're glad you came on today. we're all -- yeah. i can't think of anything bad to say. patrick, that you can. we appreciate it. >> thanks joe. >> yo
do you get something as you give something or do you think it's a bad law all the way through? >> honestly, steve, i think the answer is we're all going to find out a year from now. we're offering health care to our full time folks today. how this is going to affect business, how it's going to flow through, we're not going to know for a while now. first because uls you have to come, but secondly, i think there are a lot of things in effect that we're going do see in the marketplace for...
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Dec 1, 2012
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of these companies that should be returning cash to shareholders and that is irrespective on the tax laws on dividends. if you think there is potential they will change they should be doing it now. >> scott has a web extra on how to spot dividends. >>> time for the upside call where we take a look back on winning trades and give you the next move. when apple shares were in free fall mike made a bullish trade. >> on "options action" it is how we make genius trades. risk less to make more and that is what mike did with his bet on apple. mike was on the fence about going long the tech giant before his personal hero came on the show. >> i do think the action this morning was classic short term bottom. >> there was a problem. buying 100 shares would set him back over $50,000. so to avoid ponying up that kind of cash mike sold the december strike put and collected $21. to keep all of that money mike needs the stock to stay above that price through december expiration. of course, there is a tradeoff. by selling that put mike is obligated to buy apple stock at that put strike price or for $520 ev
of these companies that should be returning cash to shareholders and that is irrespective on the tax laws on dividends. if you think there is potential they will change they should be doing it now. >> scott has a web extra on how to spot dividends. >>> time for the upside call where we take a look back on winning trades and give you the next move. when apple shares were in free fall mike made a bullish trade. >> on "options action" it is how we make genius trades....
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Dec 4, 2012
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laws. the company is sticking to its story that it sticks to the standards. by my colleague says that there are a huge number of hedge funds believe that the deal could fall through. they are thinking it is ortho. we will be listening when starbuck's talks about teavana tomorrow. let me give you the outline so you can understand why i'm so bullish about the stock. it is a high quality growth stock in a low-bogrowth world. they are putting up into stores all over the world. i expect to hear it is doing better than young. starbu starbuck's has high end stores may seem like there is a starbuck's in every corner in america. it is the highest quality of problems it needs to keep the lines shorter. i know they don't control the airports but please, add like five starbucks to every airport that i've been to. the company is improving the efficiency of the stores. they have the pods that you put in the keurig. and now they have the sumatra. they have the keurig the barismo. it could be a good year for the company. but 2013 should be a good year too. they should have t
laws. the company is sticking to its story that it sticks to the standards. by my colleague says that there are a huge number of hedge funds believe that the deal could fall through. they are thinking it is ortho. we will be listening when starbuck's talks about teavana tomorrow. let me give you the outline so you can understand why i'm so bullish about the stock. it is a high quality growth stock in a low-bogrowth world. they are putting up into stores all over the world. i expect to hear it...
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Dec 5, 2012
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it's the need to get out of your mother-in-law's house. get your own home. intuitive concept for those, when you think about it. we got to break here as toll brothers actually down on the news today because the market's so darn tough. i expect downgrades tomorrow from people who don't believe things can stay this strong and that could be your strong to be analysts who always downgrade ar the report. here's the bottom line. we need hope to be vanquished. we need it spindled, mutilated. chex out the holders, thinking it's imminent and leave the room and then return to what i've been tracing and huge cycles of pent-up demand. buy them on the way down. never on the way up. you can take your time. do not leave this market wholesale. who the heck knows when and from what level you can get back in. why don't we go to tom in new york. tom? >> caller: hi, jim. could this offset same-store sales and make it a buy? >> i think it moved already. one of those stocks that moves in gigantic gobs, to speak and had its gob and i don't want you to come in now. not a great oper
it's the need to get out of your mother-in-law's house. get your own home. intuitive concept for those, when you think about it. we got to break here as toll brothers actually down on the news today because the market's so darn tough. i expect downgrades tomorrow from people who don't believe things can stay this strong and that could be your strong to be analysts who always downgrade ar the report. here's the bottom line. we need hope to be vanquished. we need it spindled, mutilated. chex out...
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Dec 3, 2012
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law enforcement. and unlike land-based casinos, there is almost no official regulation, enforcement, or supervision. but it hasn't stopped thousands of mostly young men from making this their livelihood. todd witteles, a former computer scientist turned poker pro, says you no longer have to go to vegas to find a high-stakes game. >> here, you could do it from your own living room. you don't have to get dressed. you don't have to anything. you can just--it's right there on your computer. >> witteles says online poker is much different: faster, more aggressive, and less personal. you're not looking at somebody sitting across the table. you're just playing the cards that tumble out of the computer. >> not only are you not looking at your opponents; you're not looking at the cards being dealt. you're not looking at who's dealing them to you. so you don't know if the whole thing is legitimate, even if all the players sitting with you are just as legitimate as you are. maybe the whole game isn't. >> and as
law enforcement. and unlike land-based casinos, there is almost no official regulation, enforcement, or supervision. but it hasn't stopped thousands of mostly young men from making this their livelihood. todd witteles, a former computer scientist turned poker pro, says you no longer have to go to vegas to find a high-stakes game. >> here, you could do it from your own living room. you don't have to get dressed. you don't have to anything. you can just--it's right there on your computer....
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Dec 6, 2012
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. >> and a pop for pot, the new marijuana laws take effect today, the law hashed out last month, get it, ha, ha, says it's no longer illegal to possess up to an ounce of cannabis, although the law forbids smoking in public crowds gathered at the space needle to toke up this morning. the phrase the dude abides take it inside is floating around the web. haven't heard that one. >> i don't know what that means. >>> coming up on "halftime" is washington prepared to take us over the cliff? we're live to lay out the odds of a deal actually getting done and it's hard to sell the winners and buy the losers. our traders tell you exactly how to play two stocks hitting new highs and new lows. "hold 'em or fold 'em" coming up next. tdd#: 1-800-345-2550 let's talk about low-cost investing. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550 which now have the lowest tdd#: 1-800-345-2550 operating expenses tdd#: 1-800-345-2550 in their respective tdd#: 1-8
. >> and a pop for pot, the new marijuana laws take effect today, the law hashed out last month, get it, ha, ha, says it's no longer illegal to possess up to an ounce of cannabis, although the law forbids smoking in public crowds gathered at the space needle to toke up this morning. the phrase the dude abides take it inside is floating around the web. haven't heard that one. >> i don't know what that means. >>> coming up on "halftime" is washington prepared to...
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Nov 29, 2012
11/12
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. >> john, i know one of your theories on this whole thing is there's no law against stopping trading, not trading. i get it. but i have to tell you something. that makes a mockery out of what should be a regular trading plan. >> well, herb, let me put it a different way. isn't it good that when there's bad news coming out about a company that the insiders are actually holding on to their stock? they're not selling out. they're actually holding their stock and waiting for better times. >> actually, if they've been on a routine plan, month in, month out they're trading, then i would say they should continue trading. i would argue that if they suddenly put in a trading plan like this, at that point, then they've got a problem. >> the big difference here is that the term insider trading and all the rules built around it including the original legislation passed in the 1930s requires one thing for something to be insider trading. that's a trade. if you're not trading and deciding to the no, you're ndece ing not to, you're not going to get in trouble. your shareholders are advised to keep
. >> john, i know one of your theories on this whole thing is there's no law against stopping trading, not trading. i get it. but i have to tell you something. that makes a mockery out of what should be a regular trading plan. >> well, herb, let me put it a different way. isn't it good that when there's bad news coming out about a company that the insiders are actually holding on to their stock? they're not selling out. they're actually holding their stock and waiting for better...
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Dec 6, 2012
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zynga has been lobbying for congress to change the law. texas's "hold 'em poker" has a million monthly users but it will be a long road to turn all of those people or even some of those people in paying gamblers. >> a long road with hurdles like you noticed, the biggest one to get congress to approval legalized online poker or other forms of gambling. but there's been movement for that. you talk to zynga insiders all the time. is this something people think could actually happen? >> well, brian, the fact that the stock has jumped so much today definitely shows that people think there is a possibility. one thing that a number of analysts have pointed out to me is that if zynga can make it happen, it becomes legal, then there could be another wrinkle which is the fact that all of the regular casinos like caesar's will also get into this busy. there is no guaranteed success but zynga does need something because it is getting increasingly hard for them to get people to pay for virtual goods and gambling is obviously something people will pay f
zynga has been lobbying for congress to change the law. texas's "hold 'em poker" has a million monthly users but it will be a long road to turn all of those people or even some of those people in paying gamblers. >> a long road with hurdles like you noticed, the biggest one to get congress to approval legalized online poker or other forms of gambling. but there's been movement for that. you talk to zynga insiders all the time. is this something people think could actually...
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Nov 30, 2012
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whether or not it's a law is another question. it's absolutely true that they've remained pretty stable. the point here is the distribution has changed. relatively speaking, a lot less of that money is coming from the top end of the spectrum. conversely, at the bottom end, those people are paying -- they haven't seen anything like those cuts. so it's fine to say there's been a relative stability, but you don't want that surface sameness to cover up a really important shift underneath it, which is the distribution, the way the wealth is shared across the population, is pretty dramatic. >> but what can we do about it? the point you made is a good one. the federal government has tried to help. they've cut tax rates for everybody. let's say that helped there. that's supposed to it add more money to your pocket. but then the states, the towns, the property taxes, they've all come and just taken it right back. >> yeah, so if you think this is a problem, and not everyone does, but if you think the tax burden ought to be distributed more
whether or not it's a law is another question. it's absolutely true that they've remained pretty stable. the point here is the distribution has changed. relatively speaking, a lot less of that money is coming from the top end of the spectrum. conversely, at the bottom end, those people are paying -- they haven't seen anything like those cuts. so it's fine to say there's been a relative stability, but you don't want that surface sameness to cover up a really important shift underneath it, which...
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Dec 3, 2012
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i think you can get a relief rally if they do change the law. and more over all the the other things that are compelling about them, whether low payout ratios or compelling yield versus the bond market or in fact the most cynical but appropriate reason could be management teams are paying themselves more and more in restricted stock units than options and that is probably for better dividend growth. >> adam, great to have you on the show. welcome you back sometime soon i hope. >> have a great week. >> adam parker from morgan stanley. let's talk among ourselves for a second. he puts out this provocative piece of research. a small number of stocks have driven the overwhelming amount of earnings growth. >> scott, 88% of all the earnings growth in 2012, according to their research, comes from ten stocks. of those ten, about half of them are credible currently or previous bailed out poster stocks like aig. it's historic when you look at that versus the rest of the economy. the answer is thank god for apple, number one. and number two, we all have to
i think you can get a relief rally if they do change the law. and more over all the the other things that are compelling about them, whether low payout ratios or compelling yield versus the bond market or in fact the most cynical but appropriate reason could be management teams are paying themselves more and more in restricted stock units than options and that is probably for better dividend growth. >> adam, great to have you on the show. welcome you back sometime soon i hope. >>...
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Dec 4, 2012
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this is also in part a law which would force trading houses to declare the payments that they make to the resource rich countries. so why would they veto against it? you have to understand, and i'm not trying to justify anything here, the commodity trading business is a huge contributor to tax revenues here. 20 billion swiss francs is year is what we're talking about. takes very secretive have i. you have big trading houses and they want low taxes and political stability and i'm sure there's a huge lobby really lobbying for this law not to be passed. but really this is at odds with other legislation which is now being pushed forth bri the u.s. and eu in terms of anti-drupgs and anti-bribery. so a big blow to the regulators. >> interesting, karl lycarolyn. thanks for that. daniel, i want to get your view on oil majors. >> as always, it will depend on the path of oil prices and if we don't really honestly expect a big appreciation, i think for next year the outlook is particularly more advantageous for oim makers than it would for other natural resource stocks. >> according to the chief
this is also in part a law which would force trading houses to declare the payments that they make to the resource rich countries. so why would they veto against it? you have to understand, and i'm not trying to justify anything here, the commodity trading business is a huge contributor to tax revenues here. 20 billion swiss francs is year is what we're talking about. takes very secretive have i. you have big trading houses and they want low taxes and political stability and i'm sure there's a...
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Dec 6, 2012
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law enforcement agencies. the settlement could be announced as soon as next week and has to do with money laundering lapses. the deal could be a test case for just how big a signal prosecutors want to send to halt the list of flows of money through u.s. banks. but that was billion with a b. let's get a check on the markets this morning. after the moves we saw yesterday, the dow up triple digits at one point. that the poebts you can see that the futures are indicated higher once again after it closed up about 85. in europe, right now at least there are some green arrows. best performer among those three indexes is the dax in germany. up 75. you also see gains with the cac in france and the ftse in london. in asia overnight, you did see slight drop by the hang seng and shanghai, those were big gainers the day before. and in japan, the nikkei up by 0.8%, kospi up 1%. oil prices this morning are trading up about 28 cents, 88.16. the ten year note this morning is sitting right at 1.85%. you to you see pressure on t
law enforcement agencies. the settlement could be announced as soon as next week and has to do with money laundering lapses. the deal could be a test case for just how big a signal prosecutors want to send to halt the list of flows of money through u.s. banks. but that was billion with a b. let's get a check on the markets this morning. after the moves we saw yesterday, the dow up triple digits at one point. that the poebts you can see that the futures are indicated higher once again after it...
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Dec 5, 2012
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one gigantic law firm with a bank attached. that's how much their earnings have been dependent upon legal obligations. and that's what cuts them. bank of america led the dow today, broke out above $10. a level hasn't been seen in ages as the unsold homes dwindles, i think it probably goes higher. here's the bottom line, listen to me, go ahead, be gloomy, you have every right. be critical, and be angry at those who can't rise above the rhetoric in washington to avoid a recession. and don't even have the common decency to give us legislation before taking a vacation. you know what these people remind me of? they remind me of the star trek villain who showed the wrath on us by sticking proverbial ear wigs into our ears. but the ceos of the companies themselves, sorry, in true scotty fashion, they're giving her all they've got, and just like spock, they want you to live long and prosper. bob in florida, bob? >> caller: hey, big boo-yah to you, cramer. >> right back at ya. >> caller: first thing i want to do is thank you quick for a
one gigantic law firm with a bank attached. that's how much their earnings have been dependent upon legal obligations. and that's what cuts them. bank of america led the dow today, broke out above $10. a level hasn't been seen in ages as the unsold homes dwindles, i think it probably goes higher. here's the bottom line, listen to me, go ahead, be gloomy, you have every right. be critical, and be angry at those who can't rise above the rhetoric in washington to avoid a recession. and don't even...
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Nov 30, 2012
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debt forgiveness is usually taxable but not under a tax relief law passed five years ago that, yes, expires at the end of next month. if it is not extended because of the fiscal cliff, debt relief will become taxable again and that will affect thousands and thousands of short sales and principal reduction loan modifications many under the big robo signing mortgage settlement. that settlement is why short sales have skyrocketed, surpassing foreclosure sales last june and keep on going. in nevada they made up 40% of october sales up from 34% a year ago. that according to lps home price index. now bank of america alone has done over 100,000 short sales so far this year. and i spoke to a rep there who says they are well aware of the potential looming tax risks as are their customers. they say they would love to ramp up short sales but they're already doing them as fast as they can. i ask what happens if the tax relief is not extended? the source told me i would expect we start to get more customers saying i've talked to my tax adviser and i'm going to opt out of that short sale and we'll just t
debt forgiveness is usually taxable but not under a tax relief law passed five years ago that, yes, expires at the end of next month. if it is not extended because of the fiscal cliff, debt relief will become taxable again and that will affect thousands and thousands of short sales and principal reduction loan modifications many under the big robo signing mortgage settlement. that settlement is why short sales have skyrocketed, surpassing foreclosure sales last june and keep on going. in nevada...
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Nov 30, 2012
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absorb that and make a credible commitment bipartisan enshrined in law to deal with this by having a phased in entitlement reform. it's very hard as a practical matter to see that happening without a bond market crisis. >> and we don't have much time, but what would be the key planning of that entitlement reform? >> rolling back the unfunded medicare giveaways of the second george w. bush administration. >> medicare and medicaid combined 20%. so huge. we want to give you a quick sense of the agenda in the u.s. october personal income and intending with the savings rate will be out at 8:30 a.m. eastern. at 10:00 a.m., we'll get the november chicago pmi. expected to show a reading of 50 which is a slight uptick from last month. and an important gauge of the ism data that we'll get later. stick around because straight ahead, a welcome phillip for japan as factory output rises for the first time in four months. is the worst finally over? we'll weigh in. and we'll leave you with a view of the heat map. up 0.05%. can i help you? i heard you guys can ship ground for less than the ups store.
absorb that and make a credible commitment bipartisan enshrined in law to deal with this by having a phased in entitlement reform. it's very hard as a practical matter to see that happening without a bond market crisis. >> and we don't have much time, but what would be the key planning of that entitlement reform? >> rolling back the unfunded medicare giveaways of the second george w. bush administration. >> medicare and medicaid combined 20%. so huge. we want to give you a...
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Nov 28, 2012
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law should have a little bit more confidence that they may actually be able to, you know, get countries to react. i think going forward, this has been a benefit. >> hans, do you expect argentina to make this payment by december 15th? >> that's -- i think what's being suggested now is that if they're going to pursue the legal avenues, that they're going to have to post a payment -- the payment of the 1.3 billion in escrow. what's interesting is guillermo nielsen, the debt negotiator for argentina back in the first go-around, the 2005 exchange, frankly i consider it to be quite a bit part of the problem in not dealing with the creditors, but even he suggested that they post the payment into escrow and let the legal process go. we've heard in argentina that the main person who is opposing sort of a rational process in seeing how this goes is the president, christina fernandez kirshner, but that there seems to be a bit more of thought that they make this payment. actually, just a payment to elliot, to aurelias, i'm not sure it's going to be in the cards. i think the choices that they try to
law should have a little bit more confidence that they may actually be able to, you know, get countries to react. i think going forward, this has been a benefit. >> hans, do you expect argentina to make this payment by december 15th? >> that's -- i think what's being suggested now is that if they're going to pursue the legal avenues, that they're going to have to post a payment -- the payment of the 1.3 billion in escrow. what's interesting is guillermo nielsen, the debt negotiator...
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Dec 6, 2012
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richard schimel is the e ex-brother in law. lock capital management. two of those had already closed. level global has closed, in fact one of us founders, andrew chasen is on trial right now. diamondback went down to about $2 billion, but as of this morning, that is no long ter case. the hedge fund saying that given redemption requests came in about 26% of total asset ors $520 million. it would be left with $1.45 billion apparently that's just not enough to run the successful hedge fund. they did have 140 or so people working for them. not sure how much they have trended that. as of now, their seven-year track record at this point. but they have spending redemptions as you might expect. rushing all of the assets to fund holders. often times in these cases, you'll see people run out and look at 13, and say oh, what are they going to be selling? but they have already sold a lot in anticipation. so don't look for any ability there to kind of drive them even further down, because oftentimes they will sell their biggest positions. nonetheless, another large
richard schimel is the e ex-brother in law. lock capital management. two of those had already closed. level global has closed, in fact one of us founders, andrew chasen is on trial right now. diamondback went down to about $2 billion, but as of this morning, that is no long ter case. the hedge fund saying that given redemption requests came in about 26% of total asset ors $520 million. it would be left with $1.45 billion apparently that's just not enough to run the successful hedge fund. they...
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Dec 5, 2012
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as i said, there's been a coordinated crackdown around the world of anti-bribery law in the u.k. and a big run in russia. corruption is everywhere. >> why isn't the united states further up the ranking? >> part of the problem and united states is always ranked around this area below top 10%. what they say is a lot of it has to do with just corruption not being enough of a priority. they say that the financial crisis changed some of that and people are starting to pay attention and citing a poll that 80% of americans believe that the financial crisis was the result of some public corruption. so it's more in the consciousness there and that affects the perception. it still has a long way to go. >> fascinating. thanks very much. >>> still ahead this morning, we've seen a wide range of companies unloading special dividends this quarter. have the nonissuing companies now made the wrong move. we'll take a deeper dive into that and talk about names that have yet to declare one and what it means for them ahead of the fiscal cliff. try running four.ning a restaurant is hard, fortunately w
as i said, there's been a coordinated crackdown around the world of anti-bribery law in the u.k. and a big run in russia. corruption is everywhere. >> why isn't the united states further up the ranking? >> part of the problem and united states is always ranked around this area below top 10%. what they say is a lot of it has to do with just corruption not being enough of a priority. they say that the financial crisis changed some of that and people are starting to pay attention and...
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Nov 28, 2012
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he's currently a partner at a law firm. we have been looking through so many things when it comes to the fiscal cliff. and what we haven't focused on is what it would mean for the life insurance industry. this is something we've spoken with you about in the past. when you were here, i don't know if it was the last time you were here, you were here when they were looking at downgrading the united states and its credit ratings. the warning's out there that if there's not a deal reached, we could see another downgrade. what would that mean for the industry? >> i think that would not be good for the industry. i was on about a year ago when we talked about the u.s. been put on a watch, the s&p did, in fact, downgrade. and what happens in the life insurance industry, in order to stand behind the promises to policy holders, it's the largest holder of corporate and u.s. high-grade bonds. so it has, i think, over $2 trillion. and if you think about it, a downgrade would not be positive there. i could see the rating agency say these
he's currently a partner at a law firm. we have been looking through so many things when it comes to the fiscal cliff. and what we haven't focused on is what it would mean for the life insurance industry. this is something we've spoken with you about in the past. when you were here, i don't know if it was the last time you were here, you were here when they were looking at downgrading the united states and its credit ratings. the warning's out there that if there's not a deal reached, we could...